The Success Story Of Louis Vuitton CEO Bernard Arnault As He Becomes World's Richest Person

More than six months after reclaiming the world's richest person title from Bernard Arnault, Elon Musk has lost it again to same man. As per Forbes, Bernard Arnault, who is the Chairman and CEO of luxury goods giant LVMH, which includes brands like Louis Vuitton and Christian Dior, is now the richest person in the world, overtaking Tesla CEO Elon Musk.

So let us bring to you the success story of world's richest person Bernard Arnault.

The Success Story Of World's Richest Person Bernard Arnault

ET

Early Years Of Bernard Arnault

Bernard Arnault was born in Roubaix, France, on March 5, 1949, into an industrial family. Arnault studied in Lille at the Faidherbe and Roubaix lyc¨¦es. He continued his studies at the Ecole Polytechnique after that. That year, he started working for the Ferret-Savinel construction company as an engineer. He was subsequently promoted to executive management roles, and in 1978, he was made the chairman.

Bernard Arnault stayed there until 1984, when he started the Financi¨¨re Agache holding company's reorganization. He started a plan to build the most successful luxury goods company in the world while also bringing the group back to profitability. In the process, he gave Christian Dior new life as the foundation of the fledgling company.

Also Read: Anand Mahindra Reacts As World's Two Richest People Elon Musk & Bernard Arnault Meet

Becoming LVMH's Chairman & CEO

In 1989, Bernard Arnault became the majority shareholder of LVMH Mo?t Hennessy ¨C Louis Vuitton, creating the world¡¯s leading luxury products group. Arnault has been Chairman and CEO of the company since 1989.

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Bernard Arnault is also President of the Board of Directors of Groupe Arnault S.E. (his family holding company), as per the company¡¯s website. He has been awarded the honorary titles of Grand Officier de la L¨¦gion d¡¯Honneur and Commandeur des Arts et des Lettres.

Arnault's children work in corners of the LVMH empire: Fr¨¦d¨¦ric, Delphine, Antoine and Alexandre. Bernard Arnault is reportedly said to be deciding which of his five children will take over the empire.

Interestingly, as per Forbes, Bernard Arnault visits as many as 25 stores every Saturday, including both his and those of his competitors. He reportedly offers suggestions to his staff and even rearranges products on display.

Topping The World's Richest List

Bernard Arnault & family currently are ranked first on the Forbes world¡¯s richest people list, with a net worth of $207 billion,Elon Musk is ranked second with $204 billion net worth.

According to Forbes, 74-year-old Bernard Arnault oversees the LVMH empire which includes around 70 fashion and cosmetics brands, including Louis Vuitton and Sephora.

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According to the Forbes real-time billionaires list, the top 10 richest people in the world at present, are-

1.Bernard Arnault & Family-$207.6 billion

2.Elon Musk-$204.7 billion

3.Jeff Bezos-$181.3 billion

4.Larry Ellison-$142.2 billion

5.Mark Zuckerberg-$139.1 billion

6.Warren Buffett-$127.2 billion

7.Larry Page-$127.1 billion

8.Bill Gates-$122.9 billion

9.Sergey Brin-$121.7 billion

10.Steve Ballmer-$118.8 billion

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